Snapdeal in talks to buy Komli Media for $300 million

Online retailer Snapdeal is in advanced talks to acquire Komli Media in a deal that values the ad technology company at about $300 million, the same as when it raised funds from investors last year.

The deal will give Snapdeal engineering capabilities in Bengaluru as it battles Flipkart, as well as help it notch up advertising revenues by selling space on the ecommerce site, according to a person familiar with the deal. "These guys have so much traffic, it makes sense to monetise it," said another person. According to audience measurement platform SimilarWeb, Snapdeal had an estimated 79.8 monthly visitors in February and Flipkart, 110.5 million.

Flipkart recently made clear its plans to sell advertising on its platform. The ecommerce firm also acquired ad technology company Adiquity. "This is incorrect, we are not acquiring Komli media," a spokesperson for Snapdeal said. An e-mail to Snapdeal co-founder Kunal Bahl was unanswered at the time of going to press.

Snapdeal-in-talks-to-buy-Komli-Media-for-300-million

Amar Goel CEO & Chairman of Komli Media declined to comment on the deal. Komli, founded in 2006, has raised $97 million in five rounds from investors including Nexus Venture Partners and Peepul Capital. It employs nearly 300 people across India and started as a digital advertising network buying and selling advertising inventory online in Asia Pacific.

Goel also set up Pubmatic, focused on technology for online advertising in the US in 2008. Inmobi, another ad-network based in Bengaluru, was founded a year later and went on to raise $200 million from Japan's Softbank.

Driven by increased spending by ecommerce companies, India's online advertising market is set to grow by 30% this financial year to reach a total size of Rs 3,575 crore, according to the Digital Advertising India report by the Internet and Mobile Association of India.

Share this:
Tags:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Cashback site Cashkaro now offers restaurant discounts

    India’s e-commerce market looks large and lucrative enough from the outside, but insiders know it is very challenging. In fact, the number of e-commerce sites and businesses is growing so fast here today that the competition is cut-throat. This

  • What is Viscose Material? Advantage and disadvantage of viscose.

    Viscose is a unique form of wood cellulose acetate used in the nnmanufacture of a number of different products. This includes items for nnthe medical industry, though it is perhaps most common as a major nningredient in the production of the fabric r

  • Honda launches new CBR 250R bike
    Honda launches new CBR 250R bike
    July 01, 2014 5:50 am

    New Delhi: Honda Motorcycle & Scooter India (HMSI) launched a new edition of its global sports performance bike CBR 250R priced between Rs 1.56 lakh and Rs 1.86 lakh (ex-showroom Delhi). The 2013 edition CBR 250R is available for sale across a

  • Zara has opened store at Ambience mall, Gurgaon

    Zara, has opened its new store at Ambience mall, Gurgaon. Spread over 28,000 sq.ft. across two floors the store has taken the space earlier occupied by Debenhams. With this Zara now has twelve stores in India. It is present in 86 countries with